The payment system PayPal plans to give customers the opportunity to trade cryptocurrency and store it on the built-in wallet. This feature may appear by fall.
PayPal payment system with a client base of 325 million users plans to add the possibility of direct purchase and sale of cryptocurrency. A similar option will appear at the Venmo payment service company. This is reported by Coindesk with reference to three sources familiar with the issue.
“They will allow the purchase and sale of cryptocurrencies directly through PayPal and Venmo. The systems will have a built-in wallet function so that users can store cryptocurrency there, ”the source said.
He clarified that it is not known how many cryptocurrencies it will be possible to perform operations. To provide digital money services, PayPal will work with several exchanges. Among them may be Coinbase and Bitstamp, however both declined to comment.
Another source confirmed that PayPal plans to add cryptocurrency transactions, the appearance of this function can be expected in the next three months or earlier.
In early June, Microsoft announced the launch of a network of decentralized identifiers (DID), which works in particular on the basis of the Bitcoin blockchain. ION technology allows users to create digital accounts. We are talking, for example, about a driver’s license or accounts on social networks.